When you travel abroad on holiday or for business it is important that you have foreign currency to pay for anything you want to buy. In order to have the money available in local currency you will need to purchase it prior to your trip, if you want to get the best currency rate.
Finding out about the best currency rate
Many people before travelling will like to take a look at the exchange rate for the currency that they want to purchase. You might be surprised to learn that this can vary quite dramatically between currency sellers. Some people will go online to check out the best currency rate whereas others will check with their travel agent. However, you need to be aware that this rate can vary between sellers, so you should think about who you will buy your currency from in plenty of time.
What are your options?
When it comes to buying foreign currency there are several places you can do this. Most banks will offer a foreign currency exchange where you can go and purchase your currency. However, with this option you will need to be aware that some currencies are not always in stock and could need to be ordered in plenty of time. So if you are planning on going on a last minute holiday, this might not be the best for you.
Post offices also offer a foreign money exchange service and this is becoming more popular, yet like banks you will need to speak to the post office in good time to ensure they have the currency and the amount of currency that you require.
Travel agents also offer foreign currency and these will tend to have plenty of currency in store. Here you will find that you can get quite a good exchange rate and you do not normally have to pay very much to get your money exchanged. Many people will find that the rate that is charged to change their money can be quite high in some travel agents, which can put a lot of people off.
Buying currency online is another option that has been used in recent years. Using this method can help you to find the best currency rate, as well as being very convenient.
Finally, it is also possible to obtain a pre-paid currency card that you can use on your holiday. Not only will this method help you to get the best currency rate, it is also a safer way of getting your foreign currency. These cards are used just like a debit or credit card and they are very popular with people who want to get the best currency rate when they go abroad.
Choosing the best currency rate
If you would like to be able to get the best currency rate it makes sense to purchase currency on a pre-paid currency card. You can choose to load your card when the currency rate is good and get the best currency rate possible. So if you want to make your money go further, this is a great way to do it.
The FairFX card offers some of the best exchange rates around with no hidden fees and the added security of MasterCard. Apply now.
Thursday 18 March 2010, 09:28am
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